Texas Estates Code Title 3, Chapter 1301 - Management Trusts

SUBCHAPTER A GENERAL PROVISIONS

• Texas Section 1301.001 - Definition
  In this chapter, "management trust" means a trust created under Section 1301.053 or 1301.054. Added by Acts 2011, 82nd Leg., R.S., Ch. 823 (H.B. 2759),...

SUBCHAPTER B CREATION OF MANAGEMENT TRUSTS

• Texas Section 1301.002 - Applicability Of Texas Trust Code
  (a) A management trust is subject to Subtitle B, Title 9, Property Code. (b) To the extent of a conflict between Subtitle B, Title 9,...
• Texas Section 1301.051 - Eligibility To Apply For Creation Of Trust
  The following persons may apply for the creation of a trust under this subchapter: (1) the guardian of a ward; (2) an attorney ad litem...
• Texas Section 1301.052 - Venue For Proceeding Involving Trust For An Alleged Incapacitated Person
  (a) An application for the creation of a trust under Section 1301.054 for an alleged incapacitated person must be filed in the same court in...
• Texas Section 1301.053 - Creation Of Trust
  (a) On application by an appropriate person as provided by Section 1301.051 and subject to Section 1301.054(a), if applicable, the court with jurisdiction over the...
• Texas Section 1301.054 - Creation Of Trust For Incapacitated Person Without Guardian
  (a) On application by an appropriate person as provided by Section 1301.051 and regardless of whether an application for guardianship has been filed on the...
• Texas Section 1301.055 - Authority Of Court To Appoint Guardian Instead Of Creating Trust
  If, after a hearing under Section 1301.054, the court finds that the person for whom the application was filed is an incapacitated person but that...
• Texas Section 1301.056 - Contents Of Order Creating Trust
  An order creating a management trust must: (1) direct any person or entity holding property that belongs to the person for whom the trust is...
• Texas Section 1301.057 - Appointment Of Trustee
  (a) In this section, "financial institution" means a financial institution, as defined by Section 201.101, Finance Code, that has trust powers and exists and does...

SUBCHAPTER C TERMS OF MANAGEMENT TRUST

• Texas Section 1301.058 - Bond Requirements For Trustees
  (a) The following serve without giving a bond in accordance with the trust terms required by Sections 1301.101(a)(4) and (a-1): (1) a trustee of a...
• Texas Section 1301.101 - Required Terms
  (a) Except as provided by Subsection (c), a management trust created for a ward or incapacitated person must provide that: (1) the ward or incapacitated...
• Texas Section 1301.102 - Optional Terms
  (a) A management trust created for a ward or incapacitated person may provide that the trustee make a distribution, payment, use, or application of trust...

SUBCHAPTER D ADMINISTRATION OF MANAGEMENT TRUSTS

• Texas Section 1301.103 - Enforceability Of Certain Terms
  A provision in a management trust created for a ward or incapacitated person that relieves a trustee from a duty or liability imposed by this...
• Texas Section 1301.151 - Jurisdiction Over Trust Matters
  A court that creates a management trust has the same jurisdiction to hear matters relating to the trust as the court has with respect to...
• Texas Section 1301.152 - Court's Authority To Discharge Guardian Of Estate
  On or at any time after the creation of a management trust, the court may discharge the guardian of the ward's estate if the court...
• Texas Section 1301.153 - Investment In Texas Tomorrow Fund
  The trustee of a management trust may invest trust funds in the Texas tomorrow fund established by Subchapter F, Chapter 54, Education Code, if the...
• Texas Section 1301.1535 - Initial Accounting By Certain Trustees Required
  (a) This section applies only to a trustee of a management trust created for a person who on the date the trust is created is:...
• Texas Section 1301.154 - Annual Accounting
  (a) The trustee of a management trust created for a ward shall prepare and file with the court an annual accounting of transactions in the...
• Texas Section 1301.155 - Appointment Of Successor Trustee
  The court may appoint a successor trustee if the trustee of a management trust resigns, becomes ineligible, or is removed. Added by Acts 2011, 82nd...

SUBCHAPTER E MODIFICATION, REVOCATION, OR TERMINATION OF MANAGEMENT TRUSTS

• Texas Section 1301.156 - Liability Of Certain Persons For Conduct Of Trustee
  The guardian of the person or of the estate of a ward for whom a management trust is created or the surety on the guardian's...
• Texas Section 1301.201 - Modification Or Revocation Of Trust
  (a) The court may modify or revoke a management trust at any time before the date of the trust's termination. (b) The following may not...
• Texas Section 1301.202 - Transfer To Pooled Trust Subaccount
  (a) If the court determines that it is in the best interests of the person for whom a management trust is created, the court may...
• Texas Section 1301.203 - Termination Of Trust
  (a) If the person for whom a management trust is created is a minor, the trust terminates on: (1) the earlier of: (A) the person's...
• Texas Section 1301.204 - Distribution Of Trust Property
  (a) Unless otherwise provided by the court and except as provided by Subsection (b), the trustee of a management trust shall: (1) prepare a final...

Last modified: September 28, 2016